Audits A-133 Compliance and Audit Readiness. By: Tracy Jackson Senior Grants Management Specialist (Audits). Audits. Sets forth standards for obtaining consistency and uniformity among Federal agencies for the audit of non-Federal entities expending Federal awards.
By: Tracy Jackson
Senior Grants Management Specialist (Audits)
Program-Specific AuditA-133 Audits: Requirements
Common Audit Findings Review and Assessment
Expenditures are not properly supported.
Reports not filed in a timely manner; incomplete or missing reports.
Payments initiated and approved by the same individual.
Segregation of Duties
Lack of financial or performance monitoring.
Cost expended are not consistent with project avtivities and/or are unallowable in accordance with the applicable costs principles of the award.